Transforming Academic Libraries into Hubs of Innovation and Entrepreneurship: A Case Study of a New Library Model

In a data-driven era, academic libraries must evolve beyond traditional roles as spaces for reading and storing information resources to become platforms promoting learning, research, innovation, future skills, and entrepreneurship. Based on the triple helix model of innovation, this paper highlights the new library model in a case study aimed at transforming traditional academic library services into enterprising, innovation-driven activities. For over ninety years, Thammasat University Library has been located on Rattanakosin Island, an historical area of Thailand. More recently, the library business model has evolved to meet modern needs. This qualitative research uses a case study to explore library strategies to create space meeting requirements of diverse user groups: students, faculty, staff, alumni, businesspeople and the community, including older residents. Service innovations responding to user demands are prioritized by drawing on the expertise of librarians. These changes generate new revenue for the library and enhance the space design and use through the Life Space concept. Co-working spaces, learning areas, inspirational corners, and performance venues make the library a platform for inspiring creativity, learning, life enhancement, and business ventures. The Thammasat University Library has also become an innovative bridge linking university research with small and medium-sized enterprises (SMEs), facilitating knowledge transfer and research commercialization. These findings may serve as guidelines for academic libraries seeking to adapt the Library of Life approach to be centres catering to readers of all generations and stations in life.